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Show Bankruptcy Act Protects Farmers j An act of the recent congress (Wending the bankruptcy act and becoming be-coming operative July 15, will greatly great-ly facilitate farmers' efforts to forestall fore-stall imminent foreclosure on their farm properties, according to word frcceived by Willard D. Ellis, general jtiRent of the Farm Credit administration adminis-tration at Berkeley, from Governor j William I. Myers, chief executive at ' ;"Vashington. The new legislation passed in the last days of congress, makes mandatory upon every court of bankruptcy to appoint a "conciliation; commissioner" for each county hav-1 ing an agricultural population of 500 , or more farmers; such commissioners! to represent hard-pressed farmers be-1 fore a bankruptcy court in applying for a composition of debts through scale-down or to secure extensions from creditors. Hitherto, according to Richard W. Young, general counsel for the Farm Credit administration's eleventh district, dis-trict, appointment of such a conciliation concilia-tion commissioner could only follow upon application of fifteen petitioning! farmers in a county. Difficulty arose constantly because of the reluctance of farmers who themselves were not f Continued on last page) Bankruptcy Act Protects Farmers . (Continued from page 1) in need of such services to league themselves with a petitioning- body and many debt-ridden agriculturalists were denied the benefits of the designed de-signed relief. The recently amended act provides that counties wherein the requisite 500 farmer population is lacking may be included with one or more adjacent counties to comprise a unit. Also it raises the compensation of persons appointed as conciliation commissioners commission-ers from ?10 per case docketed to $25. |